If Rudd's tax puts a halter on economic growth, and slows down the rape of the planet, good.
It won't though; it'll be business as usual, and by spreading around the take, Rudd's on a sure electoral winner. The electorate's as deep and unfathomable as an open-cut mine.

*Posted by Squeers, Wednesday, 19 May 2010 7:01:20 PM*
" ... The electorate's as deep and unfathomable as an open-cut mine. ... "

Ah yes, well said, that one did make me chuckle.

..

& *Missus* yes my hip pocket is painfully aware of some of the current shock to the Ozzie Dollar having just lost out quite a bit on a not insignificant T.T. to Indonesia, though I do not know that it can all be attributed to a correction brought about by projections of profit short falls due to the proposed "super profits" tax.

There are many arguments of course which can be made and I know but a few of them. One is though if the proceeds are applied in a way that further stabilisers the economy as a whole, then that will make Australia a more attractive political environment to invest in as a whole. Sometimes its better to make less profit but to have a greater sense of security knowing that we are not going to do a Thailand or something similar.

Of course, there is more pure profit to be had in slaves but however ...

As my Nan used to say and as said before in this place:

"Look after the pennies and the dollars will look after themselves."

My view re the stimulus was not that it was a case of cash handouts, but rather a case of increasing the income of the depleted bottom end of town so that they could spend, though the apparent error in the ALP delivery was not to clip the top end thus generating the deficit that they have. And further, not to regulate the necessities is a mistake - doctors, lawyers, dentists etc - i.m.o.

Australia needs savings and more money for technology, innovation and development, with the people who get paid more being the ones that bring capital flows into the country,

AND

not a situation where the savings and beyond of the average people are destroyed by the ravenous, veracious appetites of the parasites that provide internal services.

TheMissus>> Rudd has plunged the nation into financial instability. Scares off even the most high risk investors.<<

A salient point to consider when discussing mining exploration and harvesting is the time frames involved from investment to return, and the ongoing stable environment of the host country. There are other countries as abundant as Australia in dig up wealth, but their governments are unstable or their governments are high taxing. Now we are being defined as high taxing and the out flow of capital has started.

The Labor party gives the tax imposed on the petroleum industry as example of "no negative effects", but the projects they use as benchmarks were exempt of the tax.
I do not believe the low standard we now accept from the clowns in Canberra, on both sides of the house.

Did you see Abbott get hammered by O’Brian in relation to truth.....his handlers should be ashamed to offer him up without a "get out" ramble for just such questions, and he must be a fool for uttering the rubbish he did.
God save Australia from Labor.
God save Australia from Abbott

Trouble is investors are reacting to the government, not to mining. So all sectors are getting hammered. If it is Australian, dump it.!! Even though markets would have been affected by the international fallout we have no floor.G oing down hard and fast. The cost to Australia maybe massive. Nobody knows what the cost will be, that is called sovereign risk and we didn't have that 2 weeks ago. Miners maybe greedy but Rudd is even greedier.